Published on 12 Jan 2022 on Insider Monkey via Yahoo Finance
In this article you are going to find out whether hedge funds think NexTier Oilfield Solutions Inc. (NYSE:NEX) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. It's not surprising given that hedge funds have access to better information and more resources to predict the winners in the stock market.
NexTier Oilfield Solutions Inc. (NYSE:NEX) has experienced a decrease in hedge fund sentiment of late. NexTier Oilfield Solutions Inc. (NYSE:NEX) was in 21 hedge funds' portfolios at the end of the third quarter of 2021. The all time high for this statistic is 29. Our calculations also showed that NEX isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. With all of this in mind let's check out the latest hedge fund action regarding NexTier Oilfield Solutions Inc. (NYSE:NEX).